Iowa Depends on Agriculture
Iowa Secretary of Agriculture Bill Northey spoke at the National Federation of Independent Business and Waterloo/Cedar Falls Area Action Council meeting to express the importance of the agriculture industry.
Northey said Iowa farmers sell $10 billion in crops annually. The state is number one in corn, soybean, egg and hog production.
“Just like your business sometimes, people take (agriculture) for granted,” Northey said. “People will say, ‘That’s just another corn field.’ Suddenly, its adds up to billions and billions of dollars.”
In Iowa the agriculture industry is the top grossing industry. Although this industry makes the most money, it also spends the most money.
For example a farm that is doing well may purchase a new tractor from John Deere. This gives jobs to people employed at the Waterloo plant. The John Deere worker may then get overtime or at least has job security and may decide to buy a new home or remodel theirs purchasing supplies from Barnes.
Barnes President John Bates agrees that the agricultural industry plays a direct roll in the company. If farms have success people spend money, if times are tough money is not spent.
“If ag in Iowa is doing well, that pulls everything else with it,” Bates said.
Inflation fears? Refinance with Farm Plus before farm loan rates rise. Farm loan rates starting at 2.99% with 25 year terms. See our rate sheet here or call, toll free, 866-929-5585.